Simmons University announced today that the institution’s endowment is the lead investor in a new fund being launched by the woman-and minority-owned firm Metis Global Partners.
Simmons has committed $10 million of its endowment to the new fund, making it the lead commitment of what is becoming a larger Founders Circle of investors. The investment is part of the University’s commitment to advancing diversity, equity, and inclusion (DEI) and to addressing the systemic barriers that impede racial, social and economic justice.
The $10 million investment represents about five percent of the University’s endowment.
“As an institution that is committed to advancing diversity, equity, and inclusion, it is vital that we invest our dollars in ways that support our values,” said Simmons University President Lynn Perry Wooten. “Our goal is to make smart, strategic investments that align with our mission and that matter to our community. We are proud to have the opportunity to serve as the lead commitment for this new fund that is being launched by an experienced and diverse team of women leaders – an investment that will benefit Simmons students for generations to come.”
San-Diego based Metis Global Partners specializes in investment management strategies and manages portfolios for a range of midsized and large institutional clients. The firm is grounded in a rich history of academic and practitioner research that operates at the intersection of global equity markets and investor behavior. Metis Global Partners is a certified Minority Business Enterprise and is adept at developing flexible, tailored solutions to meet individual institutional needs.
“There is a gap in the financial services market, which often lacks truly diverse, woman- and minority-owned firms that are operating in the global passive and beta equity space,” said Machel Allen, CFA, who is the President and Chief Investment Officer at Metis Global Partners. “In order for firms like ours to be a catalyst for change and increase diversity, that first financial commitment is so crucial. Since Simmons announced its lead investment, we’ve experienced a flurry of interest among other institutions who are now joining the fund’s Founders Circle.”
This $10 million investment builds on Simmons’ commitment to elevating and addressing issues of equity, and racial and social justice during this pivotal moment. Last fall, Simmons launched a new President’s Advisory Council on DEI, which is advancing the University’s more than 120-year commitment to women’s-centered education and leadership, and providing the framework for faculty, staff, and students to tackle these key issues through learning, scholarship, teaching, and service.
The Council is working with a variety of internal and external partners to bring relevant training, guest speakers, community reads, and other initiatives to Simmons to help broaden issues related to racial injustice, DEI, and to involve the community in these vital conversations. Simmons has set an ambitious goal to become the most inclusive campus in New England, and its 2020 First Year undergraduate class is its most diverse in 40 years.
“We are excited and proud to work with an institution like Simmons, who is willing to back up its commitment to diversity, equity, and inclusion with a strategic financial investment,” added Allen. “Being a diverse, woman-owned firm is a perspective we bring to work each day and that is ingrained in everything we do. Our integrated approach that combines quantitative data and behavioral analysis allows us to unlock new value for institutions. We look forward to partnering with Simmons and a growing group of Founding Circle members.”